The growth includes brand-new building and construction and remodelling to existing buildings. Construction commenced in early July 2020 and is 34% total as of Might 31, 2021. HJ Sims finishes 2 financing packages HJ Sims and affiliates completed the following funding bundles: HJ Sims provided a high utilize swing loan for the effective acquisition of a Utah senior living community featuring 55 units of assisted living and memory care, with mountain views from its hilltop area in a growing local market.
The purchaser focuses on assisted living and presently handles over 1,600 systems in more than 25 communities across 5 states in the western U.S. Sims partnered with Live Oak Rely on the loan to money the acquisition, and organized funds for capital improvements. https://exactestate.com/benefits/tenant-screening/ organized a $7 million HUD loan for Marien-Heim of Sunset Park, a 169-unit, Area 8 senior apartment in Brooklyn, New york city, sponsored by a nonprofit neighborhood advancement organization.
Terms of the financing were not disclosed. The four-year, drifting rate loan originated from a nationwide bank, and carries full-term interest with extension options. When completed, the Village at Morehead will be managed by Bridgewood's wholly-owned subsidiary, Retirement Center Management. Mass, Development supplies $8M bond package for Massachusetts CCRc Mass, Advancement released an $8 million tax-exempt bond on behalf of Glenmeadow, a CCRC in Waltham, Massachusetts.
The upgrades will also include fixing and updating the natatorium; fixing and changing the roof; resurfacing roadways and parking areas; upgrading and rebuilding walkways; and finishing other general center improvements. Peoples, Bank bought the bond, which will also be utilized to re-finance formerly released debt. Fitch announces bond score updates on 3 CCRCs Fitch Scores revealed the following bond rankings updates: Fitch appointed a "BB" provider default rating to Presbyterian Retirement Communities Northwest Obligated Group, operating as Transforming Age.